Ann: Refinancing of Loan Facility and Retirement of Receivers, page-64

Hi Names Little: To clarify they will need FIRB. Please see following comment where I highlighted FIRB point:
"Since at least 2014, administrators have been utilising the Section 444GA mechanism of the Corporations Act to cause compulsory transfers of shares to recapitalising creditors, creatively applying DOCAs to extinguish liens from corporate groups, and seeking judicial guidance to effectively manage restructures and to simplify restructuring processes within a court-supervised regime. In its most creative form, the scheme of arrangement process is engaged by administrators to close out administrations.Administrators may ask the court to compel the transfer of all or some securities in a company (without compensation to old shareholders) to a new owner; that is, to the recapitalising party, usually in some form of debt-for-equity swap arrangement. Administrators must provide evidence to demonstrate that value breaks within the debt stack and that existing equity, which sits as a subordinated class of claim, has, but for the recapitalisation, no value in the securities.To obtain orders, administrators are generally required by the court to comply with valuation rules set by ASIC, to satisfy or have obtained waivers around financial disclosures, to have satisfied Australian Security Exchange (ASX) and any Foreign Investment Review Board (FIRB) requirements, and to have allowed contradictors to oppose the application. There is accordingly some mirroring of responsibility on administrators between the level of information disclosure and regulatory compliance, as would be necessary in respect of a scheme of arrangement. It is accordingly costlier to run a Section 444GA process than an ordinary DOCA, though not as costly as a scheme of arrangement."

Hope this clarifies. Sorry prior comment missed it.